FXCM to Update Its Negative Balance Policy
March 20 2015 - 4:00AM
LONDON, March 20, 2015 (GLOBE NEWSWIRE) -- Forex
Capital Markets Limited (FXCM UK), today announced that it will be
updating its Negative Balance Policy for new and existing clients
in the near future. Existing clients should expect to receive more
details about the updated policy in the coming weeks, which will
include changes to the company's master trading agreement and
notice of when such changes are to take effect. New clients should
be sure to carefully review the terms of any trading agreement
proposed during the account opening process to determine the
appropriate policy then available.
The changes to the Negative Balance Policy will
include the following, subject always to the terms and conditions
provided in the client's master trading agreement:
FXCM Updates Provision in
Master Trading Agreement: Clients subject to the Negative
Balance Policy who incur negative balances in excess of US $50,000
(determined by aggregating all of the client's negative balances
across all accounts held by FXCM and any of its affiliate(s),
incurred over a 24 hour period of time) will be responsible for and
owe FXCM the value of the total negative balance above US $50,000,
regardless of market conditions. Subject to certain exceptions,
FXCM will waive the first US $50,000 of a client's total negative
balance (determined by aggregating all of the client's negative
balances across all accounts held by the FXCM group, incurred over
a 24 hour period of time). This policy will apply to negative
balances incurred during all market conditions, including
exceptional market movements.
Specific
Exceptions: Each client's master trading agreement will
detail all of the specific exceptions to the Negative Balance
Policy. Some of the key exceptions to this policy include the
following: negative balances incurred by legal entities, omnibus
relationships, white label relationships, Eligible Contract
Participants, Eligible Counterparties and/or Professional Clients
(as defined in the client's master trading agreement) and/or
negative balances incurred on share CFD positions or products
traded on an exchange.
FXCM is a global foreign exchange broker regulated
in multiple jurisdictions. Regulated entities may require different
notice periods for changes to the master trading agreement. As
such, the effective date of the revised Negative Balance Policy
will vary by jurisdiction in which an account is held. Clients will
be notified accordingly. The revised Negative Balance Policy will
only apply after the effective date and will not apply to negative
balances incurred before such date. This release contains
general statements regarding FXCM's planned revisions to its
Negative Balance Policy, is for informational purposes only, and
should not be considered to form part of any client's agreement
with FXCM.
To learn more about FXCM's anticipated changes to
its Negative Balance Policy read our FAQ. For more information,
contact an FXCM specialist at info@fxcm.co.uk call
+1-212-897-7660.
About FXCM Inc.
FXCM Inc. (NYSE:FXCM) is a leading provider of
online foreign exchange (forex) trading, CFD trading, spread
betting and related services. Our mission is to provide global
traders with access to the world's largest and most liquid market
by offering innovative trading tools, hiring excellent trading
educators, meeting strict financial standards and striving for the
best online trading experience in the market.
Clients have the advantage of mobile trading,
one-click order execution and trading from real-time charts. In
addition, FXCM offers educational courses on forex trading and
provides free news and market research through DailyFX.com.
Visit www.fxcm.co.uk and follow us on Twitter
@FXCMUK, Facebook FXCM, Google+ FXCM or YouTube FXCM.
Disclaimer: Trading
foreign exchange and CFDs on margin carries a high level of risk,
which may result in losses that could exceed your deposits,
therefore may not be suitable for all investors.
Forex Capital Markets Limited is authorised and
regulated in the UK by the Financial Conduct Authority.
Registration number 217689. Registered in England and Wales with
Companies House company number 04072877.
CONTACT: Jaclyn Klein, +1-646-432-2463
Corporate
Communications and Investor Relations
jklein@fxcm.com
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: FXCM Inc. via Globenewswire
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